Gold Holds Steady at ₹1.46 Lakh as Silver Plunges Amid Weak Domestic Demand
Precious Metals Prices: A Closer Look at Gold and Silver Movement
Gold prices remained largely stable in the domestic market on Wednesday, trading flat at ₹1,46,300 per 10 grams (inclusive of all taxes). The All India Sarafa Association reported that the price of 99.9 percent purity gold showed no change from Tuesday's closing rate.In contrast to gold's steady performance, silver experienced a decline in the domestic market. Silver slipped by ₹100 to settle at ₹2,26,000 per kilogram (inclusive of all taxes). This marks the third consecutive session where the metal has seen a decrease in price.
Factors Driving Domestic Bullion Price Trends
The movement observed in both gold and silver prices is heavily influenced by domestic demand patterns. Traders indicated that subdued buying activity from jewellers and industrial users was the primary factor keeping bullion prices range-bound within the national market. This muted demand held the local precious metal prices steady despite global fluctuations.International Market Performance for Gold and Silver
Globally, both gold and silver registered declines in the international commodity markets. Spot gold slipped $23.30 or 0.57 percent, closing at $4,029.66 per ounce.Silver also traded lower on the international stage. It was priced nearly 1 percent lower, settling at $58.26 per ounce in global exchanges. The trends show a slight weakening across both precious metals in the global spot market.
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